Smurfit Kappa will buy film producer Litbag to expand in Southern Europe.
Litbag specializes in multi-layer ethylene vinyl alcohol barrier films for extended product shelf life.
Today it is one of the leaders in the Portuguese wine market exporting to several countries including Spain and France.
The acquisition will enable Smurfit Kappa Bag-in-Box to reinforce its position in Southern Europe and confirm its leadership in the wine sector.
“Litbag is a dynamic company with a strong track record in innovation and market development,” said Thierry Minaud, CEO of Smurfit Kappa Bag-in-Box.
“Product differentiators like their film performance and our VITOP tap technology will significantly strengthen our capabilities when they come together.”